Where's the best place to finance a Model 3?

Where's the best place to finance a Model 3?

3dwin | 2017年7月23日

Yeah accidentally posted this with completing the sentence. It's supposed to say what's the best place you guys have seen to finance model 3?

Xerogas | 2017年7月23日

As the originator, you can go back and edit your post. I think you have to hover your cursor somewhere near the title.

Many of us (including myself) financed our Model S' through Alliant Credit Union. I got 1.49% for 6 years.

3dwin | 2017年7月23日

Thanks xerogas. Awesome name too, that belongs on a license plate.

flntroc | 2017年7月23日

Yeah I believe you will find your best rates at a credit union & if you may not qualify for the amount then bigger banks will be more likely to approve the loan than a credit union

I am a robot

Xerogas | 2017年7月23日

XEROGAS is indeed my license plate!

PhillyGal | 2017年7月24日

I'm planning to ask Energy Federal Credit Union their rates at the time my car is being built. That's who we used for our Model S in late 2014 and at the time, they were offering a 1% rate discount for EVs. Our loan on the Model S is 1.11% for many years. Couldn't be that with a stick!

PhillyGal | 2017年7月24日

Whoops. It looks like they've merged with PenFed.

Sam_S | 2017年7月24日

Energy Federal Credit Union has merged with PenFed as PG said and 3 years ago when I financed Model S they offered the cheapest rates and great to deal with.

jordanrichard | 2017年7月24日

The best place to finance your Model 3 would be the same place as any other car. It being a Tesla doesn't change that.

Xerogas | 2017年7月24日

Actually, it does matter that it's a Tesla (or at least it did at one time). Back 4+ years ago, when we were all trying to figure out how to finance our Model S cars, lots of people on this forum had trouble finding a bank or credit union that would do it (at least for a reasonable interest rate). Banks seemed nervous about financing this newfangled car from this unknown company, and none of them would let you choose "Tesla" from the popup menu of car manufacturers on their website. They were confused and not ready for it.

Then Alliant Credit Union stepped up and said "We believe in this new technology and we love the idea of EVs, so we'll give you a screamin' 1.49% APR loan on Teslas" -- and the floodgates opened up.

Maybe it will be easier this time around.

fsubruno1980 | 2017年7月24日

@PG, mind me asking how many years for that interest rate?

jsanford | 2017年7月24日

Regarding picking "Tesla" from the vehicle manufacturer pick list, I heard one excuse that only NADA-affiliated makes were listed. Many lending platforms support adding custom items to the manufacturers' list; some lenders didn't bother.

Seattle was a hot market for the Model S; savvy lenders added "Tesla" as a valid vehicle make in their online apps.

adias.angel | 2017年7月25日

Is Alliant CU where Tesla has their in house financing through?

stevenroglen | 2017年7月25日

"PenFed has great rates for everyone"

Local credit unions seem to be the best way. We got a better deal on the loan for my wife's Pilot because we were able to get in with a CU. That 1.49% from Alliant isn't bad either, hopefully they will continue that relationship.